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244 The Long Game Behind Waymo’s Potential $100 Billion Valuation

The Information
Anita Ramaswamy @ The Information 3 place · 12/29/2025 11:59 EDT

The Long Game Behind Waymo’s Potential $100 Billion Valuation

Can Waymo justify a $100 billion valuation? That’s a question investors will answer as Alphabet’s autonomous ride-hailing company discusses raising funding at a valuation that amounts to 280 times its annualized revenue—many times higher than other ride-hailing companies.

Waymo’s rapid expansion in recent months—despite some hiccups such as a service suspension during a San Francisco blackout—suggests it can grow into that valuation. Revenue should rise as it adds riders and new services in cities, either.

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